Cantaloupe, Inc. (NASDAQ:CTLP) Receives Average Rating of “Buy” from Brokerages

Shares of Cantaloupe, Inc. (NASDAQ:CTLP) have earned a consensus rating of “Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $9.70.

Several research firms recently issued reports on CTLP. Barrington Research restated an “outperform” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Wednesday, February 14th. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Cantaloupe in a report on Monday, March 25th.

Insider Activity at Cantaloupe

In related news, CEO Ravi Venkatesan purchased 7,749 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $6.45 per share, with a total value of $49,981.05. Following the completion of the purchase, the chief executive officer now owns 128,658 shares in the company, valued at approximately $829,844.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Hudson Executive Capital Lp sold 90,582 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $6.30, for a total transaction of $570,666.60. Following the completion of the sale, the insider now directly owns 9,270,694 shares of the company’s stock, valued at $58,405,372.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ravi Venkatesan bought 7,749 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average cost of $6.45 per share, with a total value of $49,981.05. Following the completion of the transaction, the chief executive officer now owns 128,658 shares of the company’s stock, valued at $829,844.10. The disclosure for this purchase can be found here. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cantaloupe

Hedge funds and other institutional investors have recently made changes to their positions in the business. Deutsche Bank AG increased its position in shares of Cantaloupe by 14.3% during the third quarter. Deutsche Bank AG now owns 2,029,926 shares of the technology company’s stock worth $12,687,000 after acquiring an additional 254,203 shares in the last quarter. Towerview LLC increased its position in shares of Cantaloupe by 12.5% during the third quarter. Towerview LLC now owns 225,000 shares of the technology company’s stock worth $1,406,000 after acquiring an additional 25,000 shares in the last quarter. Nierenberg Investment Management Company Inc. increased its position in shares of Cantaloupe by 8.6% during the third quarter. Nierenberg Investment Management Company Inc. now owns 2,631,436 shares of the technology company’s stock worth $16,446,000 after acquiring an additional 209,078 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of Cantaloupe during the third quarter worth about $107,000. Finally, Vanguard Group Inc. grew its position in Cantaloupe by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,331,780 shares of the technology company’s stock worth $20,824,000 after purchasing an additional 46,252 shares in the last quarter. 75.75% of the stock is owned by institutional investors.

Cantaloupe Price Performance

Shares of NASDAQ:CTLP opened at $6.16 on Friday. The firm has a market cap of $448.45 million, a PE ratio of 32.42 and a beta of 1.55. The firm’s fifty day moving average is $6.37 and its 200-day moving average is $6.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.20 and a current ratio of 1.64. Cantaloupe has a 52 week low of $5.36 and a 52 week high of $8.28.

Cantaloupe (NASDAQ:CTLP) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $65.36 million for the quarter, compared to analyst estimates of $66.92 million. Cantaloupe had a net margin of 5.90% and a return on equity of 8.95%. Sell-side analysts predict that Cantaloupe will post 0.17 earnings per share for the current year.

About Cantaloupe

Cantaloupe, Inc, a digital payments and software services company, provides technology solutions for the unattended retail market. The company offers integrated solutions for payments processing, logistics, and back-office management. It also provides ePort, an integrated payment device that is deployed in self-service, unattended market applications, such as vending, micro-markets, amusement, arcade, commercial laundry, air/vacuum, car wash, and others, which facilitates digital payments; and integrated software services for payment or asset tracking devices.